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25/02/2014
Fonds

Heptagon Capital lance deux fonds

La boutique londonienne Heptagon Capital a renforcé sa plate-forme Ucits irlandaise avec le lancement de deux fonds actions monde, est en mesure de dévoiler Citywire Global. Cela porte la gamme de la société à cinq fonds, avec des encours sous gestion de 2,8 milliards de dollars. Les deux nouvelles stratégies offertes aux investisseurs européens sont le Oppenheimer Global Focus Equity et le Kopernik Global All-Cap Equity, tous les deux délégués à des sociétés tierces.
Fonds
25/02/2014
Fonds

Kames Capital lance un nouveau fonds de revenus diversifié

Kames Capital enrichit sa gamme de produits multi classes d’actifs. La société de gestion britannique, basée à Londres et à Edimbourg et qui affiche 64 milliards d’euros d’actifs sous gestion, a en effet annoncé le lancement d’un nouveau fonds de revenu diversifié.Baptisé Kames Diversified Income Fund, ce véhicule sera officiellement disponible sur le marché à compter du 27 février et il investira dans des obligations investment grade et high yield, les actions internationales et britanniques orientées sur les revenus et les dividendes et, enfin, les classes d’actifs alternatives. Géré par Vincent McEntegart, membre de l’équipe multi classes d’actifs de Kames, ce fonds distribuera des revenus tous les mois, tout en ayant une cible de rendement de 5%. Lors de son lancement, ce véhicule aura l’allocation suivante: 21% du portefeuille sera investi en obligations high yield, 19 % en obligations investment grade, 23 % en actions internationales, 14% en actions britanniques, 22 % dans l’alternatif et 1% en cash.
Fonds
25/02/2014

SGSS lance son portail internet client

Société Générale Securities Services (SGSS) a annoncé le lancement de SGSS Gallery, son portail internet rénové et dédié à la clientèle européenne. Le portail offre un accès unique et sécurisé à l’ensemble des clients de SGSS, allant des gestionnaires d’actifs, investisseurs institutionnels aux banques et courtiers. Les clients peuvent accéder à une gamme de services et recevoir leurs reportings à la fréquence de leur choix. Grâce à une nouvelle interface et un environnement personnalisé, les utilisateurs peuvent gérer leurs besoins de reporting sur les actifs en conservation locale ou globale, ainsi que pour l’administration de fonds. Pour le moment, le portail internet a été déployé auprès de plus de 4.000 clients à travers l’Europe et produira plus d’un million de rapports par an. Par la suite, il est prévu d’étendre également la plate-forme aux clients d’Europe Centrale, d’Europe de l’Est et d’Afrique.
25/02/2014

BNL a un nouveau responsable commercial du réseau de conseillers financiers

BNL (groupe BNP Paribas) a confirmé l’arrivée de Carmelo Salamone en tant que responsable commercial du réseau de conseillers financiers, rapporte Bluerating. Il sera placé sous la responsabilité de Ferdinando Rebecchi, responsable du développement et du conseil financier de BNL, et il s’occupera de gérer le réseau de conseillers financiers de la banque italienne.
25/02/2014

Le fonds de pension BVK confie un mandat à Access CP

Dédié à la gestion de fonds de fonds de capital-investissement, Access Capital Partners (5,3 milliards d’euros d’encours) a gagné un mandat pour le compte du fonds de pension allemand Bayerische Versorgungskammer (BVK) pour un montant confidentiel, révèle Les Echos. Au titre de ce programme, le gérant français aura pour mission d’investir dans des véhicules de LBO et de capital-développement technologique qui prennent des participations dans des PME européennes.
25/02/2014

Un fonds de pension de private equity islandais fait craindre une bulle

Onze fonds de pension islandais se sont associés pour créer un fonds de capital investissement ciblé sur des placements locaux, augmentant les craintes d’une bulle sur le prix des actifs dans le pays, rapporte le Financial Times fund management. Le fonds a levé l’équivalent de 38 millions de livres. Il s’agit du deuxième produit lancé par le secteur des fonds de pension depuis la crise.
25/02/2014

Le Vatican va créer une société de gestion

Dans le cadre de la réorganisation des finances du Vatican voulue par le pape François, une société de gestion interne sera créée, rapporte Il Sole – 24 Ore. Cette structure centralisera les principes d’investissement de tous les portefeuilles des diverses congrégations de la curie romaine.
25/02/2014

Cinq fonds de pension italiens ont affiché un taux de rotation supérieur à 2

Plus24 a identifié les compartiments des cinq fonds de pension italiens ayant fait le plus tourner leurs portefeuilles en 2012 et enregistré un taux de rotation supérieur à 2 : Garantito 3,01 (Fopadiva-lavoratori Valle d’Aosta), Bilanciato 2,70 (Fondoposte), Bilanciato-Misto 2,24 (Fondaereo), Crescita 2,16 (Fonchim), Bilanciato azionario 2,06 (Fondo quadri e capi Fiat). Deux raisons expliquent habituellement un taux de rotation élevé du portefeuille : changement de gérant et/ou évolution de la stratégie. Fondoposte a changé de gérants et d’allocation d’actifs stratégique. Fonchim a seulement changé de stratégie, afin de donner un poids plus important aux actions internationales. Fondaereo a changé de gérant. Enfin, Fopadiva s’est réorienté sur les obligations gouvernementales italiennes à court terme.
25/02/2014

Appointments at Morningstar

P { margin-bottom: 0.08in; } The research provider Morningstar has announced the appointment of Heather Brilliant, currently director for corporate and equity research, and Mark Roomans, currently chief operating officer at Morningstar Europe, have been appointed as co-CEOs of Morningstar Australasia in Sydney from 1 April. Anthony Serhan, currently CEO of Morningstar Australasia, has been appointed as managing director for Asia-Pacific research strategy in the global research group at Morningstar. Mark Roomans will continue to serve as COO for Europe.
25/02/2014

Appointments at HSBC Private Bank

P { margin-bottom: 0.08in; } HSBC Private Bank has appointed two global co-heads for its investment strategy. Olivier Pacton will be based in Hong Kong and Jean-Christophe Gerard will be based in London, Asian Investor reports. They replace Nigel Webber, who left his role as chief investment officer at the end of 2013. The introduction of the dual positions seeks to respond to the evolution of private banking worldwide and is expected to allow for better proximity to the client. Pacton was previously responsible for investment strategy for the Asia-Pacific region, while Gerard, who had been based in Geneva, was responsible for investment strategy for Europe. They are now responsible for selection of ideas as well as investment products and services which will be operated by HSBC Private Bank. They are at the head of a team of 500 people worldwide, based in the Americas, Europe, the Middle East, Africa and Asia.
25/02/2014

International hedge fund association elects new members

The Hedge Fund Association (HFA) announced on Monday the results of the 2014/2015 board of director’s election. HFA members in the U.S., Europe, Asia, Australia, Latin America and the Cayman Islands elected 15 leaders to work on behalf of the global hedge fund industry, including over 10,000 hedge funds in the U.S. and abroad which collectively manage in excess of USD2.8 trillion in assets, institutional and high-net worth investors, and industry service providers.The 2014/2015 HFA Board of Directors are:President: Mitch Ackles, Hedge Fund PR Vice President: Ron Geffner, Sadis & Goldberg Chairman: David Friedland, Magnum U.S. Investments Representing Hedge Fund Allocators:David Friedland, Magnum U.S. Investments Evan H. Katz, Crawford Ventures April Rudin, The Rudin Group Michael Scanlon, AiCE Group - Silver Leaf Partners Don Steinbrugge, Agecroft Partners Representing Hedge Fund Managers:Tony Acquadro, BTS Asset Management Joseph DeMatteo Sr., JDM Capital Corp. Frederick Pye, Landry Investment Management George Schultze, Schultze Asset Management John Taylor, White Oak Global Advisors Representing Hedge Fund Service Providers:Mitch Ackles, Hedge Fund PR Joshua Blumenthal, Rothstein Kass Ron Geffner, Sadis & Goldberg Richard Heller, Thompson Hine Kislay Shah, McGladrey
25/02/2014

Kames Capital launches a new diversified income fund

P { margin-bottom: 0.08in; } Kames Capital is adding to its range of multi-asset class products. The British asset management firm, based in Lnodon and Edinburgh, with EUR64bn in assets under management, has announced the launch of a new diversified fund. The vehicle, entitled Kames Diversified Income Fund, will officially be on the market from 27 February, and will invest in investment grade and high yield bonds, international and British equities oriented to income and dividends, and lastly, alternative asset classes. The fund will be managed by Vincent McEntegart, a member of the multi-asset class board at Kames. The fund will distribute revenues every month, with a return objective of 5%. At its launch, the fund will have the following allocation: 21% of the portfolio will invest in high yield bonds, 19% in investment grade bonds, 23% in international equities, 14% in British equities, 22% in alternative assets, and 1% in cash.
25/02/2014

Heptagon Capital launches two funds

P { margin-bottom: 0.08in; } The London-based boutique Heptagon Capital has added to its Irish platform with the launch of two global equity funds, Citywire Global reveals. These bring the product range from the firm to five funds, with assets under management of USD2.8bn. The two new strategies offered to European investors are the Oppenheimer Global Focus Equity and the Kopernik Global All-Cap Equity, both of which are outsourced to third-party firms.
25/02/2014

ETF Securities preparing a China ETF

P { margin-bottom: 0.08in; } ETF Securities and E Fund Management, based in Hong Kong, are preparing to launch a UCITS ETF on the MSCI China A index, ETF.com Editors reports. Source, in partnership with CSOP, and db X-trackers with Harvest already offer ETFs of Chinese A-class equities. Following regulatory clearance, the details of the new product will be released later in first quarter.
25/02/2014

Vatican to create an asset management firm

P { margin-bottom: 0.08in; } As part of a reorganization of Vatican finances sought by Pope Francis, an internal asset management firm will be founded, Il Sole – 24 Ore reports. The structure will centralise the investment principles of all portfolios of the various congregations of the Roman curia.
25/02/2014

An Icelandic private equity pension fund creates fears of bubble

P { margin-bottom: 0.08in; } 11 Icelandic pension funds have teamed up to create a private equity fund to target local investments, increasing fears of a bubble in the prices of assets in the country, Financial Times fund management reports. The fund has raised the equivalent of GBP38m. It is the second product launched by the pension fund sector since the crisis.
25/02/2014

Fidelity wants to develop on German market

P { margin-bottom: 0.08in; } Fidelity Worldwide Investment on 24 February announced the appointment of Ferdinand Alexander Leisten as head of asset management activities for the US group in Germany. In his new role, Leisten will report to Jon Skillman, head for continental Europe at Fidelity, and he joins the steering committee for continental Europe. Leisten has over 20 years of experience in the financial industry, and previously (until October 2013) served as head of institutional management at Sal. Oppenheim. “For Fidelity, Germany is the most important market in continental Europe and plays a central role in our international strategy,” says Skillman in a statement. “We would like to exploit the enormous potential of the German market and to increase our market share. That applies both to open-ended funds and institutional funds on the FFB fund platform,” Skillman says.
25/02/2014

Chinese market authority reorganizes

P { margin-bottom: 0.08in; } The China Securities Regulatory Commission (CSRC) has merged eight departments and four have been created in order to keep up with rapid developments in capital markets and the asset management sector, Asian Investor reports. The new departments are: bond investment, innovative activities, private investment funds and combating market abuses. Meanwhile, the two departments dedicated to supervising publicly-traded companies have been merged, as well as the two departments dedicated to overseeing futures markets. Also merged are the two divisions dedicated to supervising funds and intermediaries, and the two divisions overseeing initial public offerings and growth businesses. The regulator has not provided a specific timetable for the effective implementation of the restructuring, simply stating that it will try to release details about the responsibilities of each new department “as soon as possible.”
25/02/2014

Ingenious AM hires a new chief operating officer

P { margin-bottom: 0.08in; } The British asset management firm Ingenious Asset Management (AM) which has GBP1.4bn in assets, has appointed Andrew Waldren to the newly-created position of chief operating officer, Fundweb reports. Waldren had previously served at J. Stern & Co, after serving in a variety of roles at Taylor Young Investment Management and BNP Paribas.
25/02/2014

Henderson GI aims to double assets by 2018

P { margin-bottom: 0.08in; } Henderson Global Investors “imaking up for a handicap” according to Les Echos, after “trying years” in the eyes of its CEO, Andrew Formica, related to the integration of acquisitions of New Star Am in 2009 and Gartmore in 2011. The director is now aiming for organic growth “above all” at a pace of 5% to 10% growth per year for five years, which may allow the group, if the evolution of the markets allows it, to double the size of its assets (which now total GBP70bn) by 2018. Henderson GI has not ruled out other growth operations. “We are still seeking acquisition opportunities,” Formica admits, though he is now interested in strengthening expertise in US equities or emerging market and Asian fixed income. The asset management firm, now present in 15 countries, is not planning any new openings this year.
25/02/2014

J.P. Morgan AM hires a head for Global Insurance Solutions

J.P. Morgan Asset Management has hired James Peagam as European head for Global Insurance Solutions. He will be responsible for leading the business in building and developing investment strategies and solutions for European insurers and reinsurers. Based in London and reporting to Matt Malloy, head of global insurance solutions, Peagam will be responsible for the European business of the 35-strong global team of professionals dedicated to working with insurance companies. Prior to joining J.P. Morgan Asset Management, Peagam was Head of Sales Strategy for the EMEA Financial Institutions Group at BlackRock. Prior to this he held insurance roles at The Royal Bank of Scotland/ABN AMRO Bank in the US and EMEA and is a qualified engineer.
25/02/2014

Three fixed income managers leave Invesco

P { margin-bottom: 0.08in; } According to Citywire Wealth Managers, three senior managers specialised in fixed income and based in London are preparing to leave Invesco. They are Stuart Campbell, Phillip Ridge and Lindsay Missen.
25/02/2014

Bordier & Cie opens a new office in United Kingdom

P { margin-bottom: 0.08in; } Bordier & Cie is opening to new horizons. The Swiss private bank has announced the opening of a new office in the United Kingdom, with the assistance of Berry Asset Management, Citywire reports. Pending the approval of the FCA, the British regulator, Bordier & Cie UK is planning to open in London in the next six months. Bordier formed a strategic alliance with Berry AM in 2001, and now the Swiss group controls 70% of shares in Berry AM, while the remainder are controlled by employees. The new Bordier entity, called Bordier & Cie UK, will include two units: the pre-existing Berry AM activity in London, which will serve existing clients, while a new team will be recruited to build an international division. Jamie Berry and Jamie MacLeod, respectively chairman and CEO of Berry AM, will serve as chairman and CEO of Bordier & Cie UK.
25/02/2014

KBL Swiss Private Banking appoints Daniel Boos to the executive committee

KBL Swiss Private Banking has appointed Daniel Boos to the executive committee of KBL (Switzerland) Ltd. As head of international private banking, his role will be to develop KBL spb’s international private banking activities in strategic markets, notably in the Middle East.Daniel Boos is a Swiss national with two decades of experience in the financial services sector in Switzerland and abroad. He was formerly based in the United Arab Emirates, where he ran the representative offices of Credit Suisse and Clariden Leu.
25/02/2014

Strong growth in assets under management at Bellevue group

P { margin-bottom: 0.08in; } Assets under management at the Bellevue group, including those at Bank am Bellevue and those at Bellevue Asset Management, have increase 20% in the year 2013, to a total of CHF4.33bn. Assets under management alone at Bellevue Asset Management totalled CHF2.6bn, up 33% due largely to the good performance of the markets. Inflows have totalled CHF102m.
25/02/2014

RepRisk focuses on ESG issues in Mexico, Indonesia, Nigeria and Turkey

P { margin-bottom: 0.08in; } The Swiss sustainable development research specialist RepRisk has published a study of environmental, social and governance (ESG) issues in four emerging markets: Mexico, Indonesia, Nigeria and Turkey. Jim O’Neill at Goldman Sachs, who popularized the acronym BRIC in reference to Brazil, Russia, India and China, now uses the term MINT to refer to these four countries. The countries offer potential for considerable growth, but non-negligible risks are associated with this potential, particularly as concerns sustainable development. The risk indicator (RRI) launched by RepRisk in December 2013, which concentrates on ESG risks and risks associated with investment, deontology and reputation, currently stands at 57 out of 100 for Mexico, off a peak of 58 in December 2013. The RRI index for Turkey, which reached 59 in April 2013, now stands at 51, while Nigeria and Indonesia now stand at 59, compared with 64 in April 2013.
25/02/2014

Italian corporate bond fund launched

P { margin-bottom: 0.08in; } Aletti Gestielle Sgr and Unicasim have launched the Crescita Impresa Italia fund, which will invest in Italian corporate bonds with target total revenues of EUR10m to EUR250m, Funds People Italia reports. This represents a universe of 20,000 companies, taking into acount those with a rating equal to or higher than investment grade. The duration of the fund is seven years, and the subscription period is 12 months, with an objective of assets of EUR100m. The closed fund is reserved for institutional investors.
25/02/2014

Spanish firm A&G launches a UCITS hedge fund

P { margin-bottom: 0.08in; } The Spanish asset management firm A&G has launched a UCITS hedge fund, domiciled in Luxembourg, which is able to invest via various asset classes and investment funds, Citywire Global reports. The new vehicle, entitled A&G Global Sicav – Killorglin Fund, was launched in mid-February, and is managed by Sergio Navarro Fernandez. It may invest directly or indirectly in investment funds, funds of funds, equities, bonds, and structured products. A&G, founded in 1987, manages over EUR4bn in assets under management for families and institutional investors. The Spanish firm, based in Madrid, is 72% owned by EFG International.
25/02/2014

Avantium IM stops its activities

P { margin-bottom: 0.08in; } Strong turbulence on emerging markets has claimed a new victim. Avantium Investment Management (IM), a hedge fund specialised in emerging markets and launched for former Deutsche Bank employees, has closed its doors after only two and a half years of activity, eFinancial News reports. The firm has had to close its doors after posting large redemptions to investors who lost appetite in emerging markets, although no sums have been disclosed. At its launch in October 2011, Avantium had about USD200m in assets. These assets rose to USD800m at their highest in May 2013. Since then, the firm has been hit hard by decisions by investors to withdraw their money even though the current size of the fund is difficult to evaluate.

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